If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  •  Loading your search... Loading your search...
  • HDFC Car Loan Eligibility Calculator is Rated as "Excellent!" by 6952 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    HDFC Car Loan Eligibility Calculator

    An Overview about HDFC Car Loan

    HDFC has attractive car loan offers for new and used cars. It has appealing interest rates, easy repayment tenures and large loan amounts. Customers can avail of three different car loans to suit their needs. You can avail of a loan for:

    • New Car
    • Pre-Owned Car
    • Loan Against Car

    HDFC offers car loans that finance 100% of your cost to purchase the car. Repay the loan over 7 years. You can check if you are eligible for a car loan in a minute and be approved of one in half an hour. Enjoy fixed interest rates and stability of your EMI every month. HDFC aims at making the process fast and hassle-free for their customers. With low down payments, competitive pricing, transparency and deals offered to customers, this car loan stands out as one of the best offers. HDFC ensures that there are no hidden charges in the loan process which makes customers happy with the clarity of the loan amount and applicable fees.

    HDFC also has tie ups with a number of authorised pre-owned car dealers to provide loans to customers seeking used cars. Get fast approvals and doorstep service with this loan. The car should not be older than 7 years for private use, and 6 years for commercial use.
    And even if you don’t have income documents to present, the bank has a car loan that makes it even more easier for you. The HDFC Loan Against Car Loan gives you an interest rate lower than 2% on a personal loan. You can get a maximum loan amount based on the value of the car.

    HDFC Car Loan Eligibility

    The HDFC car loan is offered to salaried individuals as well as self-employed businessmen. Your eligibility for a car loan is based on a number of factors such as your age, income and whether the bank can be sure you are capable of repaying the loan. You are also required to submit documentation that can support your identity, age, address and income claims.

    Apply for Car Loan Online

    New cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,80,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    2 years in business

    Rs. 60,000 for standard cars.

     

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Partnership Firms

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Private Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

    Public Limited Companies

         

    Rs. 60,000 for standard cars.

     

    Rs. 4,50,000

    Yes

    Rs. 1,00,000 for mid-sized and premium cars

     

    Pre-owned cars

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    60 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    25 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Public Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

    Loan against car

    Employment

    Minimum age

    Maximum age at the end of loan tenure

    Work experience

    Minimum annual income

    Minimum turnover

    Landline facility required

    Salaried

    21 years

    65 years

    2 years, having worked with the same employer for at least a year

    Rs. 1,00,000

     

    Yes

    Sole Proprietorship

    21 years

    65 years

    3 years in business

    Rs. 60,000

     

     

    Yes

    Partnership Firms

         

    Rs. 60,000

     

    Rs. 4,50,000

    Yes

    Private Limited Companies

         

    Rs. 60,000

     

     

    Yes

    Hindu Undivided Family- HUF

         

    Rs. 60,000

     

    Yes

     

     

    HDFC Car Loan Documentation required

    In order to complete the eligibility process, you need to submit documentation to prove your identity, age, address and income. The following are the documents you will need.

    • ID proof -
      • For salaried individuals and businessmen: Any official document that can be used to identify yourself such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card.
      • For Partnerships: Partnership deed
      • Private Limited Companies: Memorandum and Articles of Association / Certificate of incorporation
    • Age proof - Any official document that can be used to verify your age will suffice such as a copy of your passport, voters ID, PAN card, driver’s licence, ration card, employer certificate or ID, School or College leaving certificate.
    • Address proof - You are required to prove your place of residence through a ration card, driver’s licence, Passport, telephone bill, electricity bill, credit card statement with a copy of your credit card, or an employer’s certificate.
    • Signature proof - The bank also needs to verify your signature as it appears on your passport, driver’s license, credit card statement, banker’s verification, copy of margin money paid to the bank.
    • Income proof
      • For salaried employees, you need to present your latest salary slip with the latest Form 16/ Latest Income tax returns. You can submit the HDFC bank corporate salary account statement for the last 3 months for salaries above Rs. 8,000.
      • For businessmen, you need the latest/previous year’s Income tax returns with the advance tax paid challan or the latest IT assessment order.
      • For Partnership,Private and Public Limited Companies, you need the latest ITR and balance sheet along with Profit and Loss account.
    • In case you are transferring your loan, you need to submit the foreclosure statement from the previous bank.
    • The repayment schedule for 9 months for personal vehicle, and for 12 months for commercial vehicles.

    Factors Affecting HDFC Car Loan Eligibility

    Your HDFC Car Loan Eligibility can be affected by a number of factors. A few have been listed below.

    CIBIL score - CIBIL score is your credit score assigned by the Credit Information Bureau Limited. A high credit score could make your loan process easy and smooth. A low credit score could prove difficult to secure a loan.

    Age - You can get a loan only when you reach the age of 21 years. The maximum age poses a greater obstacle. You must finish the repayment period by the age of 65 years. This is where age can affect your eligibility.
    Income - The loan amount you are seeking to purchase your car may not always be the same as what you are eligible for. Your loan amount depends greatly on how much income you can show. If you end up being short on the eligible income scale, you can add on your immediate family member’s income to compensate the difference.

    Debt - Any debt you already have might affect your eligibility. Your debt-to-income ratio is a very important factor while taking out a major loan. If you already have another loan, or credit card debt, this could significantly reduce your eligible loan amount or total eligibility.

    How CIBIL Score affects HDFC Car Loan Eligibility

    Your CIBIL score is determined by the Credit Information Bureau (India) Limited which has come to play a very crucial role in India’s Financial System. CIBIL collects and stores all information related to your credit history like credit cards, loans, payments, defaults, spending patterns, and so on. A number of things could negatively affect your score like defaulting on your EMIs or minimum due payments. A lower score reduces the amount of loan you are eligible for. In extremely bad situations, you might not be eligible for a loan at all. You will need to build your score back through a long process. So it is important when you take credit from banks and financial institutions to pay your dues on time and play by the rules to ensure a good credit score for when you need it again.

    How to Increase your HDFC Car Loan Eligibility

    If you find yourself not eligible for the loan amount you are looking for, there are ways to change that.

    Pay off other debts - You will need to repay other loans and credit cards in order to increase the amount of loan you might get. Never take a personal loan right when you plan to take a big car loan or home loan in the near future. This could affect your debt-to-income ratio, and this will significantly reduce your loan amount.

    Co-applicants - You can include the income of your spouse, father, mother, son, daughter, brother and sister to increase your eligibility. They will be brought on as co-applicants of the loan even if the car is not in their name.

    Increase your credit score - Find ways to bring your credit score up. You could spend more on your credit card and pay it back ahead of time. CIBIL scores are tricky because even closing a credit card can put a ding in your score simply because your available credit limit is significantly reduced. So do your research and find ways to improve your score.

    HDFC Bank Car Loan Eligibility Calculators

    HDFC Bank offers a quick and easy eligibility calculator on its website. Simply enter your details to find out if you are eligible for a loan. You can also view the exact total cost and EMI of your car loan. You can then decide whether the loan is suitable for you and apply online. Get special discounted rates of interest when you apply for a loan online.

    You can also check your eligibility on BankBazaar.com. Enter your details and view the results of the loans you are eligible for. You can read further about the HDFC Car Loan offered and apply online directly through BankBazaar.com.

    Car Loan Reviews

    • HDFC Bank Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      When I was looking for a car loan, I have applied to HDFC Bank through online portal. Since I have postponed my plans, there is need for a loan. But the response was immediate. They have proper comm with the customers, In future I will prefer their service.
      Was this review helpful? 0
      , nagpur
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Very good"
      0.5 5.0/5 "Blown Away!"
      I had taken a car loan using a third party vendor that is why i had not taken the car loan. Rate of interest is very high and processing fee charges were 3k. Foreclosure charges were charged on the remaining outstanding balance i need to pay 1%, I am allowed to make a foreclosure after 3 months.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Good experience"
      0.5 3.0/5 "Satisfactory"
      Quite unsure why my car loan request was not processed . They showed interest they had discussed with me the information about all parameters even about foreclosure and part payment. I am happy with the interest rate and processing fee charged by HDFC bank. Sadly, my request is not processed by the said bank.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Needs improvment on all aspects"
      0.5 1.0/5 "Really Bad"
      HDFC Bank car loan process process is slow and sluggish, they keep collecting more and documents but the end result is ZERO .Very poor service indeed. The rate of interest is okay and it infact competitive too. I would till say that their service can be improved.
      Was this review helpful? 0
      , lucknow
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Bank is very supportive"
      0.5 5.0/5 "Blown Away!"
      I have raised a request with HDFC Bank for the car loan , however I have invested in shares as the market is down, I had dropped the idea of taking the car loan with HDFC Bank and I would certainly say that HDFC Bank service is up to the mark.
      Was this review helpful? 0
      , lucknow
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      Earlier I was searching for a new Hyundai car so I have approached HDFC bank. The response was good and the customer service is up to the mark. Later I changed my plans for second end car. They offered me rate of interest is 9.9% and am completely satisfied.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Services are good"
      0.5 4.0/5 "Great!"
      Due to my personal reasons I have not taken the car loan from HDFC Bank. The bank contacted me on time and informed me the necessary details. There were couple of follow up as well. Not sure on the interest rate and processing fee as I have not taken the loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Delayed process"
      0.5 4.0/5 "Great!"
      HDFC Bank contacted me for the car loan but they delayed to come over and collect my documents. In the mean time the dealer processed my papers and I got the loan the loan through. Not sure on the interest rate and processing charges as I did not go to that level of communication.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for a car loan with HDFC Bank, they were requested for the bank statements. Since I am hospitalized for 2 months, unable to submit the documents. Hence, my loan was rejected from the bank. The customer service and response was good.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Overall good"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan earlier from HDFC Bank and at that moment it was a good process too. There were no hassles in the paper work and I got the loan on the date I needed it. The process was very much simple and the deal on the interest rate and processing charges was normal.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      I had applied through a online channel for a car loan with HDFC Bank. Since the car was on waiting the bank asked me to inform them once the vehicle is allocated. When I contacted the executive, I was told that he would come to collect my paper work. But later there was no response. So I went ahead with the same bank through the dealer finally. I got a rate of interest of 8.75% with a minimal processing fee.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Need to be more quick"
      0.5 2.0/5 "Expected more"
      I have approached HDFC bank for car loan. The customer service is not up to the mark and the response was not good. I would appreciate, if they improve the service and faster the process. ICICI gave me a good interest rate of 8.24% than 9%, But my credit card experience was good with HDFC.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      HDFC Bank had good options when I approached them personally for a car loan. They offered me a interest rate of 8.2% and the processing charges are normal. The process of getting the loan was smooth as I got it on time. The loan amount was also to my expectations.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Fast process"
      0.5 5.0/5 "Blown Away!"
      I am a privileged customer of HDFC Bank and the customer services are good. They have offered me a preapproved car loan and the process was completed in 24 hours. The interest rate and processing charges is normal. I am happy that the bank has been beneficial.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Good response & service"
      0.5 4.0/5 "Great!"
      I have approached HDFC Bank on the car loan. The response was good and there were no issues with the service. Since I got better interest from the other bank, I have cancelled my application. HDFC has offered me interest rate of 9% but I got it for 7.99.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 19, 2017
    • HDFC Bank Car Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The HDFC bank has disbursed my car loan in 1month. The customer support took longer than normal time. The rate of interest is nominal with HDFC bank , when compared with others. I am satisfied with the loan amount. I can say the HDFC bank car loan service was average.
      Was this review helpful? 0
      , mumbai
      Reviewed on Oct 17, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      I have postponed the car loan plan so that was the reason I haven't got the loan from HDFC bank. The rate of interest is nominal with HDFC bank. The customer support was good with HDFC bank. The service is good with HDFC bank. The overall service was good with HDFC .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 17, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The service which was given by HDFC bank was good in regards to my car loan. The rate of interest and the charges were nominal when compared with others. The customer support was good with HDFC bank . I am satisfied with the HDFC bank service...
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 17, 2017
    • HDFC Bank Car Loan
      "Hassle free"
      0.5 5.0/5 "Blown Away!"
      I also bank for a car loan with HDFC Bank and the banking services are good as always. The process is also satisfactory and quick and I got the loan as needed. The documentation is normal and I am also comfortable with the rate of interest and processing charges.
      Was this review helpful? 0
      , guntur
      Reviewed on Oct 17, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The HDFC bank car loan service was good, but I have postponed the car loan at the moment so that was the reason I haven't processed with the HDFC bank. The rate of interest is nominal with HDFC bank. I would say , I have got good service from Hdfc bank.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 17, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.